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Old January 12th, 2010, 12:48 PM
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Default RCCL (=X= Lines) Sues Rolls Royce - Settlement Reached!

I did not know that Carnival Corp (Cunard Line) also sued Rolls Royce, maker of the Propulsion - Mermaid Pods, in 2008.

Interestingly this settlement seems to have been reached expeditiously, and kudos to both companies for coming to an agreement. Hopefully =X= will be able to recoup some of the loss they have experienced from the faulty mechanisms, and put this back into their wonderful product.

Good ending to the story, and hopefully a positive one! Click below for the details:

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Old January 12th, 2010, 03:08 PM
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Sounds like good news, Triton. I'm sure it will help their bottom line. What, if anything, do you think it will mean to Celebrity's passengers as they go forward?
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Old January 12th, 2010, 04:05 PM
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That's a good question richsea. Speaking for myself as a Celebrity cruiser, it means that Celebrity is not blind and truly has taken the malfunction issue(s) seriously and pursued litigious action to reach a settlement which hopefully will restore faith in their product.

My faith was not lost, as others may have been...but with Rolls Royce accepting responsibility and settling on a figure of compromise, it makes any losses X may have experienced easier to swallow. I am curious if RCCL will share with the public and stock owners what their plans are for the additional $65mm in income?

Hopefully X passengers will see tangible results from this settlement! Perhaps the refurbishment of their M-class is just the beginning? I sure hope so.

Curious about your thoughts and anyone else here...
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Old January 12th, 2010, 04:49 PM
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I guess the extra $$$, or at least a large part of it, will be used to offset the extraordinary costs which they incurred as a result of lost revenues & credits which they offered to guests who were impacted by missed or changed sailings. As I recall, they were pretty generous in their dealings with the passengers who were affected. It's hard to put a price tag on lost good will.

I guess it will ultimately be a benefit to their stockholders, who originally took part of the hit in decreased earnings/dividends.
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Old January 12th, 2010, 07:29 PM
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Triton:

I mentioned in another thread on this that if you read the settlement it doesn't say the money is going to Celebrity but to Royal Caribbean, the corporation. Also, nothing said about them being fixed only reliability being improved.

Don
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Old January 13th, 2010, 05:43 PM
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Don- My original post referred to "RCCL" and Rolls Royce reaching a settlement. Obviously X is RCCL's line, or brand name. Because of the issues with the X line, RCCL has reached this settlement with RR.

I did not see your other thread, pardon me for any duplication of info.
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Old January 13th, 2010, 09:18 PM
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Point I was trying to make it that there is no guarantee that Celebrity will see a dime of the money..

Don
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Old January 14th, 2010, 08:19 PM
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Quote:
Originally Posted by dkjretired View Post
Triton:

I mentioned in another thread on this that if you read the settlement it doesn't say the money is going to Celebrity but to Royal Caribbean, the corporation. Also, nothing said about them being fixed only reliability being improved.

Don
Don,

Very good point and kudos for an excellent interpretation of what the article actually said.

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Old January 15th, 2010, 07:46 PM
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There is no difference between Celebrity's and Royal Caribbean's money. Celebrity is only a brand name - they are all Royal Caribbean International ships in the same way there is no difference between Coke and Sprite.

Every dime the comes in from or goes into Celebrity ships is Royal Caribbean money.

Do you think the money for the dry docks upgrades is actually coming from a Celebrity bank account?

RCI does not do their accounting that way. Read one of their balance sheets, they don't even break out brands except for Pullmantur.
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Old January 15th, 2010, 07:54 PM
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Quote:
Originally Posted by Paul Motter View Post
There is no difference between Celebrity's and Royal Caribbean's money. Celebrity is only a brand name - they are all Royal Caribbean International ships in the same way there is no difference between Coke and Sprite.

Every dime the comes in from or goes into Celebrity ships is Royal Caribbean money.

Do you think the money for the dry docks upgrades is actually coming from a Celebrity bank account?

RCI does not do their accounting that way. Read one of their balance sheets, they don't even break out brands except for Pullmantur.
Exactly what I said, no guarantee that any of that money will go to a Celebrity ship....

don
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Old January 18th, 2010, 12:54 PM
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Wher exactly the money goes, I don't know. However money coming in to a corporation is allways a good thing.

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Old January 19th, 2010, 12:44 PM
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Yes - good for the shareholders. RCL hit a new high for the trailing year today. About $27/share. Quite a rise from the $6 it hit in March.
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